Anixter Int'l (AXE) Tops Q4 EPS by 55c, Offers Outlook

Anixter Int'l (NYSE: AXE) reported Q4 EPS of $2.18, $0.55 better than the analyst estimate of $1.63. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.17 billion.

Outlook:

Galvin commented, "We continue to see generally positive sales trends in the business, based on our solid backlog and pipeline, and discussions with our customers and suppliers."

First Quarter Outlook

Our outlook for the first quarter sales growth is 2% - 5%, and also organic growth of 2% - 5%. This outlook is being compared to a strong 2019 first quarter, which had an 8% organic growth rate. The cumulative two year growth rate would be 12% at the mid point of the outlook range.

Full Year 2020 Outlook

We are establishing our full year 2020 sales outlook of 1% - 5%. After adjusting for copper and foreign exchange, the organic sales growth outlook is 1% - 5%.

Based on our outlook for mid single digit sales growth and the related investment in working capital to support that growth, combined with our ongoing investment in innovation and business transformation, we estimate full year cash flow from operations of $175 - $225 million and capital expenditures of $45 - $50 million, which will result in free cash flow of $125 - $180 million.

For earnings history and earnings-related data on Anixter Int'l (AXE) click here.

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